American Airlines Group reports fourth quarter and full year 2013 results

For the fourth quarter 2013, AAG reported a GAAP net loss of $2.0bn, which includes $2.4bn of net special charges. This compares to a net profit of $262m, which includes $350m of net special credits in the fourth quarter 2012. AAG’s GAAP financial results include the results for US Airways only for the period from the completion of the merger on Dec. 9, 2013 through Dec. 31, 2013. For full year 2013, GAAP net loss was $1.8bn, which includes $3.1bn of net special charges. This compares to a full year 2012 net loss of $1.9bn, which includes $1.7bn of net special charges.
Fourth quarter 2013 combined net profit was $436m on a non-GAAP basis excluding net special charges. This compares to a combined non-GAAP net loss of $42m excluding net special credits for the same period in 2012. For 2013, the company’s combined net profit was $1.9bn on a non-GAAP basis excluding net special charges. This represents a $1.5bn improvement over the company’s combined 2012 non-GAAP net profit of $407m excluding net special charges.